EQT Raises Intertek Bid to £58/Share — Implied 12% Premium to Market Price
Swedish private equity firm EQT has lifted its takeover offer for London-listed testing and inspection company Intertek to £58 per share, valuing the deal at approximately £8.9 billion ($12.2 billion). Intertek shares surged 7.4% to £51.61 in early London trading on the news. The gap between the current share price and the bid price suggests the market is not yet fully pricing in deal completion.
Intertek shareholders are sitting on an immediate paper gain, but the roughly 12% spread between current price and offer price signals investor skepticism that the deal closes at this level — or at all. For merger arbitrage players, that spread represents either opportunity or warning. Broader FTSE 100 exposure via ETFs like ISF is only marginally affected, but anyone holding ITRK directly faces a binary outcome tied to deal approval.
Intertek board response: expected within days per UK Takeover Panel rules. UK Takeover Panel 28-day PUSU deadline: watch for formal 'put up or shut up' ruling. Any competing bidder announcements: open window for rival offers.
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